Petro Matad Limited (LSE:MATD) has provided an update on its Heron-1 production operations and the company’s work program for 2025. The Heron-1 well is producing around 150 barrels per day under stable conditions, and export efficiency has improved through the consolidation of crude from multiple blocks. While payment delays from PetroChina remain under discussion, management is actively working to resolve revenue withholding issues.
Looking ahead, Petro Matad is advancing its 2025 program, which includes connecting Heron-1 to the national electricity grid and preparing for additional well testing and production activities to support growth in Mongolia’s oil sector.
About Petro Matad
Petro Matad is a Mongolian oil exploration and production company listed on AIM, focused on developing oil assets in the country’s resource-rich basins.
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